...Five Key Areas: This criteria report incorporates and expands upon the Master Criteria report, Tax-Supported Rating Criteria, published on 14 August 2012 (see Related Criteria), with a focus on international local and regional governments (LRGs) outside the US. It identifies the five factors that Fitch Ratings considers when assigning ratings to a particular entity or debt instrument within the scope of the Master Criteria and in different jurisdictions. Not all rating factors outlined in this report apply to each individual rating or rating action. Each specific Rating Action Commentary or rating report discusses those factors most relevant to the individual rating decisions....
